Marcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) Senior Director Douglas K. Mandel, along with National Office and Industrial Properties Group Associate Timothy P. Thomas facilitated the sale of 2425 Office Plaza, a 21,625-square-foot boutique office asset located at 2425 East Commercial Boulevard in Fort Lauderdale.
Real estate investor Corey Shader purchased the office building for $2.3 million from a subsidiary of Coral Gables-based KAS Partners. The property last traded in December 2010 for $1,450,000.
2425 Office Plaza was approximately 70 percent occupied at the time of the sale, which closed on September 16.
“With its central location, direct frontage on Commercial Boulevard and tremendous lease-up potential, 2425 Office Plaza provided Mr. Shader with an excellent opportunity to acquire a well-maintained, value-add office building,” commented Mandel.
The 1971-built office property, which consists of four stories situated on a 0.45-acre parcel of land with direct frontage along Commercial Boulevard, just east of Federal Highway (US Highway 1), was renovated in 2005.
Mandel and Thomas represented the seller in the transaction. The buyer was represented by One Investment Group.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2016-10-03 00:17:242016-10-03 00:17:24KAS Partners Unloads Office Property, More Than Doubles Investment
The South Florida office market keeps reeling in investors ready to drop large sums on the region’s trophy assets.
In one of the biggest commercial real estate deals this year, a downtown Fort Lauderdale office tower changed hands for $220 million.
A company linked to Deutsche Bank‘s asset and wealth management division pocketed the Bank of America Plaza at Las Olas City Centre, a 23-story office tower built in 2002, from J.P. Morgan Investment Management Inc., according to Broward County property records.
The pricey deal closed Monday, five years after New York-based J.P. Morgan Chase & Co. originally purchased the asset. The seller walked away with a $56 million gain, or 34 percent
The 725,898-square-foot Class A office building at 401 E. Las Olas Blvd. sits on 2½ acres with about 408,000 square feet of leasable office space. It is anchored by Bank of America, and other tenants include Greenberg Traurig; Boies, Schiller & Flexner; GrayRobinson; Patriot National Inc.; and Farlie Turner & Co.
The deal broke down to $303 per square foot.
Fort Lauderdale’s office market has attracted new players this year looking for valuable assets away from Miami’s congested urban core.
Broward County’s investment sales activity picked up last quarter with eight transactions totaling $134 million, according to CBRE Inc. Overall, commercial transactions totaled $345 million during the first half of the year.
The submarket’s vacancy rates dropped to 12 percent in the second quarter as new entrants vie for space and existing companies expand their footprints.
https://sfoba.com/wp-content/uploads/2012/09/Las-Olas-City-Centre.jpg270275adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2016-09-18 20:36:472016-09-18 20:36:47Downtown Fort Lauderdale Office Sale Closes At $220 Million
Marcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) Senior Director Douglas K. Mandel, along with National Office and Industrial Properties Group Associate Timothy P. Thomas facilitated a joint venture management restructure for Sabre Centre I, a 102,351-square-foot office building located at 5901 Broken Sound Parkway, within the evolving and highly desirable Park at Broken Sound in Boca Raton.
“Sabre Centre I provided G&C Sabre Investors LLC with the opportunity to partner on a value-add trophy office asset in one of the region’s most highly sought-after submarkets.” commented Mandel.
Mandel
Sabre Centre I is the sister building to Sabre Centre II and was the former HQ for Siemens Corporation. The building sits on approximately six acres of land and was approximately 60 percent occupied. Tenants range from various industries such as financial services and sports nutrition.
The property’s location, just north of Yamato Road and less than 2 miles from Interstate 95, is surrounded by new multi-family and retail developments that are transforming the Park at Broken Sound into a Live-Work-Play community. Formerly known as the Arvida Park of Commerce, and often referred to as the “Grande Dame” of South Florida office parks, the Park at Broken Sound contains 5.2 million square feet of office space spread across
Thomas
700 acres of beautiful lakes, waterways, and open green space with walking trails.
Mandel and Thomas represented both parties in the JV.
The deal was finalized August 15th.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2016-09-12 18:14:502016-09-12 18:14:50Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton
Cushman & Wakefield leasing agents John Criddle and Joseph Freitas have leased more than 83,000 square feet of space at Cypress Executive Center.
Criddle and Freitas represented ICM Realty Group in securing new leases with Delphi Behavioral Health Group, Wells Fargo Bank and Royal Seas Cruise Lines and secured lease renewals with Whiting-Turner Contracting Company and Humana Medical.
Cypress Executive Center is a six-story, 140,635-square-foot, Class A office building located in the heart of Cypress Creek at 1901 West Cypress Road.
ICM purchased Cypress Executive Center in early 2015 and has since successfully repositioned the building into a Class A property via an aggressive building renovation program. Improvements include the complete renovation of the building lobby, common areas, rest rooms and exterior landscaping, plus newly added amenities including a tenant wi-fi lounge, café and conference facility.
“We’re seeing tremendous interest in Cypress Executive Center driven by both ICM’s capital investments and prevailing market trends, which are driving demand in non-CBD markets like Cypress Creek,” said Criddle.
According to Cushman & Wakefield research, a tightening downtown Fort Lauderdale office market has boosted suburban demand. Coupled with significant regional employment gains, the Broward County office market stands to see significant gains in the coming months.
“As the Downtown CBD becomes less of an option due to limited space, many suburban markets that have not peaked will become more attractive to those forced out of downtown due to the high asking rental rates and restricted space availability,” wrote Senior Research Analyst Valerie Tatum in the firm’s 2Q 2016 Broward County Office MarketBeat report. “With limited construction in the pipeline, Cushman & Wakefield anticipates market fundamentals to tighten through the back end of 2016.”
https://sfoba.com/wp-content/uploads/2011/11/Cypress-Executive-Center.jpg270275adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2016-09-06 07:56:422016-09-06 07:56:42C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center
Touchstone Webb Realty Company has been hired by the Girl Scouts of SE Florida (“GSSEF”) to represent them in Broward and Palm Beach counties.
Touchstone Webb Broker Associate Laureen Hunter, along with Owner/President Susan Thomas,will lead the marketing effort to sell the Girl Scouts’ Oakland Park office property, located at 4701 NW 33rd Ave., as well as a 3.02 acre residential parcel in Parkland.
The 2-story, 20,594-square-foot office building is listed for sale for $3,950,000.
The brokerage firm has also been tapped to secure a new 15,000 to 20,000-square-foot combined office, to be located in southern Palm Beach County, and to locate two new Girl Scout retail stores to serve the organization’s members in the Oakland Park and Jupiter markets.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2016-08-29 02:40:382016-08-29 02:40:38Girl Scouts Taps Touchstone Webb To Market Office Building And Land, Relocation
After only two years carrying the property, Brookwood Financial Partners has sold Fort Lauderdale’s Plaza 100 office building for $46.5 — $14 million more than what the company originally paid.
Brookwood, which is headquartered in Massachusetts, just sold its 330,747-square-foot property to an affiliate of Zurich Asset Management, an alternative investment division of the international Zurich Insurance Group, records show.
The 11-story building is located at 100 Northeast Third Avenue in downtown Fort Lauderdale. Its square footage is split by offices with 165,000 square feet of leasable space and a garage with roughly 580 parking spaces.
According to data from the CoStar Group, it is 92.5 percent leased, with asking rents averaging $23.5 per square foot, triple net. Notable tenants include Comerica Bank, which has its signage displayed prominently on the building, and financial consulting firm RSM McGladrey.
Brookwood came onto the scene in 2014 when it paid $32.5 million to buy Plaza 100 from an affiliate of Accesso Partners, according to county records. Accesso had paid $20.8 million four years earlier.
The Massachusetts private equity company’s purchase price had broken down to nearly $197 per square foot. Now, the company has raked in just under $282 per foot.
CBRE’s Christian Lee, Jose Lobon, Amy Julian and Marcos Minaya marketed the property on behalf of Brookwood.
According to its website, Brookwood has built a portfolio worth $2.2 billion since launching in 1993. Office properties in central business districts like Plaza 100 make up a relatively small chunk of Brookwood’s real estate purchases, equating to about 8 percent of its portfolio.
The Plaza 100 sale also came sooner than Brookwood’s typical holding period, which lasts three to five years under its current strategy.
KAS Partners Unloads Office Property, More Than Doubles Investment
/in Done Deals, News/by adminReal estate investor Corey Shader purchased the office building for $2.3 million from a subsidiary of Coral Gables-based KAS Partners. The property last traded in December 2010 for $1,450,000.
2425 Office Plaza was approximately 70 percent occupied at the time of the sale, which closed on September 16.
The 1971-built office property, which consists of four stories situated on a 0.45-acre parcel of land with direct frontage along Commercial Boulevard, just east of Federal Highway (US Highway 1), was renovated in 2005.
Mandel and Thomas represented the seller in the transaction. The buyer was represented by One Investment Group.
Downtown Fort Lauderdale Office Sale Closes At $220 Million
/in Done Deals, News/by adminThe South Florida office market keeps reeling in investors ready to drop large sums on the region’s trophy assets.
In one of the biggest commercial real estate deals this year, a downtown Fort Lauderdale office tower changed hands for $220 million.
A company linked to Deutsche Bank‘s asset and wealth management division pocketed the Bank of America Plaza at Las Olas City Centre, a 23-story office tower built in 2002, from J.P. Morgan Investment Management Inc., according to Broward County property records.
The pricey deal closed Monday, five years after New York-based J.P. Morgan Chase & Co. originally purchased the asset. The seller walked away with a $56 million gain, or 34 percent
The 725,898-square-foot Class A office building at 401 E. Las Olas Blvd. sits on 2½ acres with about 408,000 square feet of leasable office space. It is anchored by Bank of America, and other tenants include Greenberg Traurig; Boies, Schiller & Flexner; GrayRobinson; Patriot National Inc.; and Farlie Turner & Co.
The deal broke down to $303 per square foot.
Fort Lauderdale’s office market has attracted new players this year looking for valuable assets away from Miami’s congested urban core.
Miami-based Steelbridge Capital purchased the two-building Class A SunTrust Center office complex a block away at 501-505 Las Olas Blvd. for $87 million in June. That deal, at $320 per square foot, was the largest transaction since June 2015.
In August, Massachusetts-based Brookwood Financial Partners sold an 11-story office building in downtown Fort Lauderdale for $46.5 million — $14 million more than what it paid two years ago.
Broward County’s investment sales activity picked up last quarter with eight transactions totaling $134 million, according to CBRE Inc. Overall, commercial transactions totaled $345 million during the first half of the year.
The submarket’s vacancy rates dropped to 12 percent in the second quarter as new entrants vie for space and existing companies expand their footprints.
Source: DBR
Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton
/in Done Deals, News/by adminMarcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) Senior Director Douglas K. Mandel, along with National Office and Industrial Properties Group Associate Timothy P. Thomas facilitated a joint venture management restructure for Sabre Centre I, a 102,351-square-foot office building located at 5901 Broken Sound Parkway, within the evolving and highly desirable Park at Broken Sound in Boca Raton.
Mandel
Sabre Centre I is the sister building to Sabre Centre II and was the former HQ for Siemens Corporation. The building sits on approximately six acres of land and was approximately 60 percent occupied. Tenants range from various industries such as financial services and sports nutrition.
The property’s location, just north of Yamato Road and less than 2 miles from Interstate 95, is surrounded by new multi-family and retail developments that are transforming the Park at Broken Sound into a Live-Work-Play community. Formerly known as the Arvida Park of Commerce, and often referred to as the “Grande Dame” of South Florida office parks, the Park at Broken Sound contains 5.2 million square feet of office space spread across
Thomas
700 acres of beautiful lakes, waterways, and open green space with walking trails.
Mandel and Thomas represented both parties in the JV.
The deal was finalized August 15th.
C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center
/in Done Deals, News/by adminCushman & Wakefield leasing agents John Criddle and Joseph Freitas have leased more than 83,000 square feet of space at Cypress Executive Center.
Criddle and Freitas represented ICM Realty Group in securing new leases with Delphi Behavioral Health Group, Wells Fargo Bank and Royal Seas Cruise Lines and secured lease renewals with Whiting-Turner Contracting Company and Humana Medical.
Cypress Executive Center is a six-story, 140,635-square-foot, Class A office building located in the heart of Cypress Creek at 1901 West Cypress Road.
ICM purchased Cypress Executive Center in early 2015 and has since successfully repositioned the building into a Class A property via an aggressive building renovation program. Improvements include the complete renovation of the building lobby, common areas, rest rooms and exterior landscaping, plus newly added amenities including a tenant wi-fi lounge, café and conference facility.
According to Cushman & Wakefield research, a tightening downtown Fort Lauderdale office market has boosted suburban demand. Coupled with significant regional employment gains, the Broward County office market stands to see significant gains in the coming months.
Girl Scouts Taps Touchstone Webb To Market Office Building And Land, Relocation
/in News/by adminTouchstone Webb Realty Company has been hired by the Girl Scouts of SE Florida (“GSSEF”) to represent them in Broward and Palm Beach counties.
Touchstone Webb Broker Associate Laureen Hunter, along with Owner/President Susan Thomas, will lead the marketing effort to sell the Girl Scouts’ Oakland Park office property, located at 4701 NW 33rd Ave., as well as a 3.02 acre residential parcel in Parkland.
The 2-story, 20,594-square-foot office building is listed for sale for $3,950,000.
The brokerage firm has also been tapped to secure a new 15,000 to 20,000-square-foot combined office, to be located in southern Palm Beach County, and to locate two new Girl Scout retail stores to serve the organization’s members in the Oakland Park and Jupiter markets.
Source: CRE-sources
Downtown Fort Lauderdale Office Tower Trades For $282 PSF
/in News/by adminAfter only two years carrying the property, Brookwood Financial Partners has sold Fort Lauderdale’s Plaza 100 office building for $46.5 — $14 million more than what the company originally paid.
Brookwood, which is headquartered in Massachusetts, just sold its 330,747-square-foot property to an affiliate of Zurich Asset Management, an alternative investment division of the international Zurich Insurance Group, records show.
The 11-story building is located at 100 Northeast Third Avenue in downtown Fort Lauderdale. Its square footage is split by offices with 165,000 square feet of leasable space and a garage with roughly 580 parking spaces.
According to data from the CoStar Group, it is 92.5 percent leased, with asking rents averaging $23.5 per square foot, triple net. Notable tenants include Comerica Bank, which has its signage displayed prominently on the building, and financial consulting firm RSM McGladrey.
Brookwood came onto the scene in 2014 when it paid $32.5 million to buy Plaza 100 from an affiliate of Accesso Partners, according to county records. Accesso had paid $20.8 million four years earlier.
The Massachusetts private equity company’s purchase price had broken down to nearly $197 per square foot. Now, the company has raked in just under $282 per foot.
CBRE’s Christian Lee, Jose Lobon, Amy Julian and Marcos Minaya marketed the property on behalf of Brookwood.
According to its website, Brookwood has built a portfolio worth $2.2 billion since launching in 1993. Office properties in central business districts like Plaza 100 make up a relatively small chunk of Brookwood’s real estate purchases, equating to about 8 percent of its portfolio.
The Plaza 100 sale also came sooner than Brookwood’s typical holding period, which lasts three to five years under its current strategy.
Source: The Real Deal